IBT Staff Reporter

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Regulator sues major banks over subprime bonds

A regulator sued 17 large banks and financial institutions on Friday over losses on about $200 billion of subprime bonds, which may hamper a broader government settlement of the mortgage mess left over from the housing crisis.

Job growth stalls, fuels recession fears

Employment growth ground to a halt in August, reviving recession fears and piling pressure on both President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy.

Spain 3-2 Chile - Match Highlights (VIDEO)

It was an entertaining International friendly between Spain and Chile as the world champions had to work hard to secure a 3-2 comeback victory at the Stade de Geneve in Switzerland.

Top 8 Android Apps of All Time

Though Android’s market has fewer number of apps compared to Apple’s app store, there are quite a few appealing ones, which may make you grab the smartphones based on Android operating system.

U.S. loses video game jobs to Quebec

Outside, the sun is shining, but it is dark in the production room where more than 150 Ubisoft artists, animators and engineers are racing to finish the latest edition of Assassin's Creed, one of this holiday's hotly anticipated games.

Labor market woes sink Wall Street

Stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession.

Chinese artist Ai Weiwei wins fans in Los Angeles

Dissident Chinese artist Ai Weiwei is living a heavily restricted life in Beijing after being released from detention earlier this year, but his work is speaking volumes to people in the second-largest U.S. city.

U.S. regulator sues major banks over subprime bonds

A U.S. regulator sued 17 large banks and financial institutions on Friday over losses on about $200 billion of subprime bonds, which may hamper a broader government settlement of the mortgage mess left over from the housing crisis.

Murdoch and son get big bonuses, James declines

News Corp awarded Rupert Murdoch and his son James big compensation increases, though James declined his bonus, citing controversy over a phone hacking scandal at the UK newspaper unit that he oversees.

Obama Backtracks on Smog Plan, Bows to Big Business

President Barack Obama put a stop on Friday to new rules that would limit smog pollution, unexpectedly reversing course on a key policy measure after businesses said it would kill jobs and cost them billions of dollars.

Jobs woes sink Wall Street

Stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession.

BNY Mellon grants ex-CEO Kelly $33.8 million in pay

Bank of New York Mellon Corp has agreed to pay $33.8 million in severance and benefits to Robert Kelly, who stepped down as chief executive this week after disagreeing with the board over how to manage the company.

Mitt Romney Promises bold Jobs Plan

Mitt Romney promised on Friday to propose a bold jobs plan that seeks cuts in federal spending and business taxes, a reduction in burdensome regulations and a balanced budget.

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